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Impressive Growth in Cyprus Tourism Revenue: €223.3m in Q1 2024, Surging 11.7% YoY

Revenue from tourism reached an estimated €223.3m in January–March 2024, rising 11.7% compared to €200m in the first quarter of 2023, Cystat said.

Based on the results of its Passengers Survey, in March, revenue from tourism reached €113m, compared to €97.8m in the corresponding month of 2023, recording an increase of 15.5%.

The average expenditure per person was €558.88 in March 2024 compared to €530.72 in March 2023 (up 5.3%).

Tourists from the United Kingdom, again Cyprus’ largest tourist market with 31.8% of the total in March, spent on average €73.49 per day, while tourists from Poland, the second largest market with 10.4% of total tourists, spent on average €75.86.

Tourists from Germany, the third largest market with 9.8%, spent on average €98.66 per day, while tourists from Greece with 9% of the market, spent on average €43.37 per day.

Finally, tourists from Israel, the fifth place on the market with 8.2%, spent on average €143.21 per day.

Cyprus Tour Guides Association Mobilizes For Sector Reform

Cyprus Tour Guides Association has announced a protest outside Deputy Ministry of Tourism, scheduled for 11:00 on Friday. Action follows growing concerns in the sector over working conditions and market pressure.

Critical Issues Under Scrutiny

Tour guides highlight several ongoing issues, including illegal tours, limited oversight at archaeological sites and strict controls at crossing points. According to the association, these factors are affecting daily work and contributing to a rise in cancellations.

Economic Implications Amid Regional Instability

Pressure on the sector is increasing as tourism demand shows signs of slowing. Hoteliers report weaker bookings for April and May, linked to ongoing instability in the Middle East. While summer reservations remain relatively stable, new bookings from key markets, including Europe and Israel, have declined.

Calls For Strategic Government Action

At the same time, Akel leader Stefanos Stefanou has called for additional government support for the tourism sector. He proposed measures such as strengthening air connectivity, launching targeted safety campaigns and introducing support for domestic demand. He also highlighted the need to support seasonal workers affected by delays at the start of the season.

Developments reflect broader pressure across tourism, as businesses and workers adjust to weaker demand and ongoing regional uncertainty.

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